{"id":18985,"date":"2024-11-28T11:00:17","date_gmt":"2024-11-28T09:00:17","guid":{"rendered":"https:\/\/forklog.com\/en\/vancouver-mayor-proposes-bitcoin-diversification-for-city-treasury\/"},"modified":"2024-11-28T11:00:17","modified_gmt":"2024-11-28T09:00:17","slug":"vancouver-mayor-proposes-bitcoin-diversification-for-city-treasury","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/vancouver-mayor-proposes-bitcoin-diversification-for-city-treasury\/","title":{"rendered":"Vancouver Mayor Proposes Bitcoin Diversification for City Treasury"},"content":{"rendered":"<p>Ken Sim, the mayor of Vancouver, Canada, has unveiled a plan to incorporate Bitcoin into the city&#8217;s municipal balance sheet. The announcement was made during a council meeting on November 26, as <a href=\"https:\/\/csg001-harmony.sliq.net\/00317\/Harmony\/en\/PowerBrowser\/PowerBrowserV2\/20241127\/-1\/20611\">reported<\/a>.<\/p>\n<p><!--more--><\/p>\n<p>Details of the initiative, titled &#8220;Preserving the City&#8217;s Purchasing Power through Financial Resource Diversification: Becoming a Bitcoin-Friendly City,&#8221; remain undisclosed.<\/p>\n<p>Editor and writer for the Globe and Mail, Ethan Lou, <a href=\"https:\/\/www.youtube.com\/watch?v=X_ZW5eb7Xzc\">believes<\/a> that it is unlikely Vancouver will introduce cryptocurrency payments for taxes or parking fees:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>&#8220;I wouldn&#8217;t be surprised by such a move, but I think the mayor wasn&#8217;t referring to that.&#8221;<\/cite><\/p><\/blockquote>\n<p>In his view, the creation of a municipal Bitcoin reserve is also improbable.\u00a0<\/p>\n<p>Conversely, author and crypto enthusiast Jeff Booth <a href=\"https:\/\/x.com\/bitcoinfirst_\/status\/1861441285900366175\">expects<\/a> Vancouver authorities to adopt the leading cryptocurrency as a reserve asset.<\/p>\n<p>On December 11, the mayor plans to present his proposal for a council vote.<\/p>\n<p>Sim assumed office as mayor in 2022. During his election campaign, he <a href=\"https:\/\/abcvancouver.ca\/2022\/04\/abc-vancouver-today-announced-that-it-will-accept-cryptocurrency-donations\/\">accepted<\/a> cryptocurrency donations.<\/p>\n<p>Previously, a Brazilian presidential candidate proposed establishing a national Bitcoin reserve.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ken Sim, the mayor of Vancouver, Canada, has unveiled a plan to incorporate Bitcoin into the city&#8217;s municipal balance sheet. The announcement was made during a council meeting on November 26, as reported.<\/p>\n","protected":false},"author":1,"featured_media":18984,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,771],"class_list":["post-18985","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-canada"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18985","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18985"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18985\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18984"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18985"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18985"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18985"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}